The FBI said scammers were able to make record profits off of Americans last year. Americans were out more than $10 billion dollars, the most successful scammers have been since the FBI started tracking the data. More than 800,000 scams, or more than 2,000 per day, were reported last year. Total losses were up from $6.9 billion…

The NFL’s Super Bowl attracts hundreds of millions of viewers each and every year. It’s technically a football game but the commercials are their own main event. In 2022, it cost $6.5 million for 30 seconds between the action. Last year, the big game was dubbed the Crypto Bowl because of all of the ads…

The trial for one of the biggest fraud cases in more than a decade is still nearly nine months away. Still, it seems nearly every day new information is uncovered about FTX, the collapsed cryptocurrency exchange. FTX has $5.5 billion in liquid assets This week, FTX reported to creditors that it has recovered $5.5 billion…

A Russian national who runs a crypto exchange in Hong Kong was arrested Tuesday night in Miami. Prosecutors at the Justice Department said the crypto exchange, Bitzlato, processed over $700 million in illicit funds that were made from crimes including ransomware and drug trafficking. Now the firm’s majority shareholder, Anatoly Legkodymov, is charged with conducting an…

Disgraced cryptocurrency exchange founder Sam Bankman-Fried pleaded not guilty to a host of criminal charges Tuesday in federal court. The former FTX CEO has been living under house arrest at his parents’ after controversially securing his $250 million bail. Bankman-Fried is charged with illegally funneling funds from FTX customer deposits to prop up his hedge…

The last 12 months have been a rollercoaster for business and economic news. Unfortunately, most of us are entering 2023 with a lot less fortune. Here are the biggest stories that dominated 2022 headlines in this week’s Five for Friday. #5: FTX Scandal Cryptocurrency was already facing turmoil amid the long crypto winter. Then, the…

We’ve all had a moment like this. You’re in a dentist office waiting room. You reach for the stack of magazines on the table and think to yourself, “Wait, Reader’s Digest still exists?” We’re taking a look at some of the companies you may not realize are still hanging on in this week’s Five for…

FTX founder Sam Bankman-Fried is facing charges from multiple U.S. agencies after getting arrested Monday night in the Bahamas. Once considered crypto’s white knight, Bankman-Fried’s arrest and charges come one month after his cryptocurrency exchange filed for bankruptcy following a spectacular collapse. The Securities and Exchange Commission on Tuesday charged the fallen CEO in “orchestrating…

Embattled and bankrupt, cryptocurrency exchange FTX said it owes its top 50 creditors more than $3 billion. The largest single lender is out around $226 million, according to a court filing. As FTX and founder Sam Bankman-Fried continue the fall from grace, contagion is spreading. Almost immediately following the fallout, Solana DeFi lost almost $700…

Nearly a dozen high profile celebrities are named defendants in a class action lawsuit against the failed cryptocurrency exchange FTX. Tom Brady, Stephen Curry and Shaquille O’Neal headline a list of playmakers who endorsed the platform through various campaigns. The lawsuit loops in 11 celebrities and the Golden State Warriors with FTX founder Sam Bankman-Fried,…